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PayPal up over 8% following Q3 results, raised FY18 guidance and FY19 outlook

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PYPLPayPal

$77.50

-2.61 (-3.26%)

10/16/18

RBCM

10/16/18NO CHANGETarget $95RBCMOutperform

PayPal to show continued new account growth, says RBC Capital

RBC Capital analyst Daniel Perlin kept his Outperform rating and $95 price target on PayPal ahead of its Q3 results, modeling a 150bps expansion in its Q3 operating profit margin and continued strength in new account growth. The analyst also expects investors to focus on the company's commentary around its FY19 guidance, capital deployment, Venmo monetization efforts, and the sustainability of its total payment volume growth.

10/16/18

JEFF

10/16/18NO CHANGETarget $110JEFFBuy

PayPal pullback brings attractive entry point, says Jefferies

Jefferies analyst John Hecht believes the recent share price decline in PayPal represents an attractive entry point. The analyst reiterates a Buy rating on the shares with a $110 price target. Based on key macro intra-quarter data points, he remains "somewhat balanced" into the company's Q3 results given "offsetting trends." Hecht, however, remains favorable on the longer-term story at PayPal and its ability to scale over time. He believes its growth story is more than just Venmo and that the eBay migration is manageable.

Stifel analyst Scott Devitt kept his Buy rating and $102 price target on Paypal ahead of its Q3 earnings this Thursday, saying the company should produce "continued momentum from healthy net active account additions, solid Venmo total payment volume, or TVP, growth, and further expansion in emerging geographies." The analyst anticipates TPV and revenue growth of 25% and 14% respectively and sees Paypal as "well-positioned for long-term growth given the secular tailwinds in digital payments".